The murmurs in entrepreneur circles about funding slowdown is still persistent. There are talks about bursting the startup bubble. The flames of uncertainty is still recurring, on top with the change of dynamics in startup ecosystem. However, when the country’s economic growth and purchasing power of people are on synchronized rise, there can be no dearth of funding. 2015 was a very good year, and 2016 is for taking things slow. But there is no stopping for the VC companies. Read our list of the top 10 most funded startups and get a dose of motivation for free!
Modern businesses are notoriously complex entities. They transcend geographies and political boundaries, and can often have a confusing set of investors and partners. So when things happen in one business, they can impact other unrelated businesses – often with surprising results.
The Karnataka transport department the department has issued a circular stating that the aggregators who are operating un-licensed cabs in the city will have to stop operations with immediate effect.
Nearly 100 Ola drivers have been protesting at the company’s office in Chennai. The drivers are unhappy with Ola’s policies which have recently come into effect.
In addition to the roads in the cities around India, Uber and Ola will now battle it out in the courtroom. Uber has sued Ola for $7.5 million for trying to sabotage its platform by repeatedly making fake bookings and then immediately cancelling them.
The Delhi government had yesterday announced that it had banned surge pricing in the city, and it seems to be quite serious about implementing its ruling. 18 cabs belonging to Uber and Ola were impounded in the city today for overcharging customers.
While Bangalore’s taxi aggregators are continuing to charge surge pricing rates despite a government order, it turns out that there’s now a way to get a refund – complaining to customer care.
Vehicles belonging to Ola and Uber have been seized in Bangalore for continuing to apply surge pricing rates. Rame Gowda, the commissioner of transport and road safety, said that more than 30 vehicles have been impounded and operations against the two companies are continuing.
Two days after the Karnataka Road Transport Office issued a directive to commutech companies against applying surge pricing, Uber and Ola seem to be defying the rules and continuing with higher prices.
After Uber had approached the Delhi High Court accusing the company of making fake bookings on its app to sabotage its business, Jugnoo has followed suit with similar claims of its own.
Jugnoo is a Chandigarh-based auto aggregator that competes directly with Ola, which also has its own auto booking service. It alleges that Ola employees have been creating fake accounts over the last 10 days to book and make cancellations on Jugnoo’s app leading to loss of revenue for the company and also affecting the income of auto-rickshaw drivers.